Charles Schwab Investment Management Inc. Increases Stake in Innospec Inc. (NASDAQ:IOSP)

Charles Schwab Investment Management Inc. boosted its holdings in shares of Innospec Inc. (NASDAQ:IOSP - Free Report) by 4.8% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 352,577 shares of the specialty chemicals company's stock after buying an additional 16,055 shares during the quarter. Charles Schwab Investment Management Inc. owned 1.41% of Innospec worth $38,805,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the business. Crossmark Global Holdings Inc. raised its holdings in shares of Innospec by 23.7% during the third quarter. Crossmark Global Holdings Inc. now owns 2,286 shares of the specialty chemicals company's stock worth $258,000 after purchasing an additional 438 shares during the last quarter. State of New Jersey Common Pension Fund D grew its position in Innospec by 17.8% during the 3rd quarter. State of New Jersey Common Pension Fund D now owns 17,409 shares of the specialty chemicals company's stock worth $1,969,000 after purchasing an additional 2,625 shares during the period. Thrivent Financial for Lutherans raised its stake in shares of Innospec by 0.3% during the 3rd quarter. Thrivent Financial for Lutherans now owns 59,602 shares of the specialty chemicals company's stock valued at $6,740,000 after buying an additional 195 shares during the last quarter. B. Metzler seel. Sohn & Co. Holding AG acquired a new position in shares of Innospec in the 3rd quarter valued at about $3,726,000. Finally, Connor Clark & Lunn Investment Management Ltd. purchased a new stake in shares of Innospec in the third quarter worth about $254,000. 96.64% of the stock is currently owned by institutional investors and hedge funds.

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Insiders Place Their Bets

In other Innospec news, SVP Corbin Barnes sold 598 shares of the company's stock in a transaction on Monday, February 24th. The shares were sold at an average price of $103.06, for a total transaction of $61,629.88. Following the completion of the transaction, the senior vice president now directly owns 8,051 shares in the company, valued at approximately $829,736.06. This represents a 6.91 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, VP Philip John Boon sold 3,754 shares of Innospec stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $103.30, for a total transaction of $387,788.20. Following the completion of the sale, the vice president now owns 20,079 shares in the company, valued at approximately $2,074,160.70. This trade represents a 15.75 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 7,696 shares of company stock worth $794,853. 1.52% of the stock is owned by corporate insiders.

Innospec Stock Performance

Shares of IOSP traded up $0.16 during trading hours on Wednesday, hitting $98.86. The stock had a trading volume of 191,653 shares, compared to its average volume of 119,854. The firm has a 50-day moving average price of $107.45 and a 200 day moving average price of $111.19. Innospec Inc. has a fifty-two week low of $96.39 and a fifty-two week high of $133.71. The firm has a market capitalization of $2.47 billion, a price-to-earnings ratio of 69.55 and a beta of 1.08.

Innospec (NASDAQ:IOSP - Get Free Report) last issued its quarterly earnings data on Tuesday, February 18th. The specialty chemicals company reported $1.41 earnings per share for the quarter, topping analysts' consensus estimates of $1.36 by $0.05. Innospec had a net margin of 1.93% and a return on equity of 12.27%. The business had revenue of $466.80 million during the quarter, compared to the consensus estimate of $447.43 million. As a group, analysts predict that Innospec Inc. will post 6.18 EPS for the current fiscal year.

Innospec announced that its board has initiated a stock buyback program on Monday, March 10th that permits the company to repurchase $50.00 million in outstanding shares. This repurchase authorization permits the specialty chemicals company to repurchase up to 2% of its stock through open market purchases. Stock repurchase programs are often an indication that the company's management believes its stock is undervalued.

Analysts Set New Price Targets

Separately, StockNews.com cut Innospec from a "buy" rating to a "hold" rating in a research report on Friday, March 14th.

Innospec Company Profile

Innospec Inc develops, manufactures, blends, markets, and supplies specialty chemicals in the United States, rest of North America, the United Kingdom, rest of Europe, and internationally. The company's Fuel Specialties segment offers a range of specialty chemical products that are used as additives in additives in diesel, jet, marine, fuel oil and other fuels.